Genesis Energy, L.P. (NYSE:GEL) shares were up 5.7% during mid-day trading on Monday . The stock traded as high as $5.05 and last traded at $5.00. Approximately 1,148,123 shares were traded during trading, a decline of 29% from the average daily volume of 1,609,336 shares. The stock had previously closed at $4.73.
Several equities analysts have issued reports on GEL shares. Wells Fargo & Company increased their price objective on shares of Genesis Energy from $7.00 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, July 22nd. Zacks Investment Research downgraded shares of Genesis Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 24th. Finally, ValuEngine downgraded shares of Genesis Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 10th.
The stock’s 50-day moving average price is $5.84 and its 200 day moving average price is $6.42. The firm has a market capitalization of $596.96 million, a price-to-earnings ratio of -1.77 and a beta of 2.54. The company has a quick ratio of 1.20, a current ratio of 1.56 and a debt-to-equity ratio of 3.40.
Genesis Energy (NYSE:GEL) last issued its earnings results on Wednesday, August 5th. The pipeline company reported ($2.82) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($2.71). The business had revenue of $388.50 million during the quarter, compared to analyst estimates of $484.49 million. Genesis Energy had a negative net margin of 12.15% and a positive return on equity of 1.18%. Genesis Energy’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. On average, sell-side analysts anticipate that Genesis Energy, L.P. will post -0.61 earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of GEL. First Trust Advisors LP increased its position in Genesis Energy by 11.8% during the first quarter. First Trust Advisors LP now owns 256,670 shares of the pipeline company’s stock worth $5,980,000 after purchasing an additional 27,072 shares during the last quarter. RR Advisors LLC increased its position in Genesis Energy by 11.5% during the first quarter. RR Advisors LLC now owns 3,634,000 shares of the pipeline company’s stock worth $14,246,000 after purchasing an additional 374,000 shares during the last quarter. Parkwood LLC acquired a new stake in Genesis Energy during the first quarter worth about $43,000. JPMorgan Chase & Co. increased its position in Genesis Energy by 117.1% during the first quarter. JPMorgan Chase & Co. now owns 4,640,528 shares of the pipeline company’s stock worth $18,191,000 after purchasing an additional 2,502,638 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Genesis Energy by 24.2% during the first quarter. Rockefeller Capital Management L.P. now owns 10,275 shares of the pipeline company’s stock worth $40,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 65.64% of the company’s stock.
Genesis Energy Company Profile (NYSE:GEL)
Genesis Energy, L.P. operates in the midstream segment of the crude oil and natural gas industry. The company's Offshore Pipeline Transportation segment engages in offshore crude oil and natural gas pipeline transportation and handling operations; and in the deep water pipeline servicing in the southern Keathley Canyon area of the Gulf of Mexico.
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